CALLING ALL INVESTORS! Here is a Great Opportunity for a double lot in Drexel Gardens! This double lot provides ample opportunity for someone looking to build not just one but two possible homes. This lot can be kept as one large corner lot OR split into two if someone so desires! The split would provide two .11/acre lots that are easily buildable and a chance to maximize your return on investment! The corner lot with the garage had a house on it at one time and is connected to city utilities so it's ready to go and has a brand new garage door on it as well. Purchase will come with TWO sets of build plans for you to use if you wish. Why pay for new plans when these are at your disposal!? Located near all the major highways (I65, I69, I70, I74 & I465) this location is PRIME!! It's only 10-15 Minutes from: The Indianapolis International Airport, The Indianapolis Motor Speedway, Lucas Oil Stadium, Gainbridge Fieldhouse, Downtown Indy's Circle Center, Eagle Creek Reservoir and more! Once the house(s) are built, there could be year round short term rental revenue for events such as The Indianapolis 500, Brickyard 400, All Colts Games, All Pacer games, GenCon, Boat Sport & Travel shows, etc...Indy has conventions all year long and is known to be a great Host City. Why not build close to all the action?! Set up your showing today and let's make a deal happen!
Active
$97,997
4825 Melrose Ave, Indianapolis, IN 46241
--beds
--baths
9,583Square Feet
Unimproved Land, Residential Lots
Built in ----
9,583 Square Feet Lot
$-- Zestimate®
$--/sqft
$-- HOA
What's special
Double lotCorner lotConnected to city utilities
- 375 days |
- 111 |
- 9 |
Zillow last checked:
Listing updated:
Listed by:
Eric J Johnson 317-735-8345,
F.C. Tucker Company
Source: MIBOR as distributed by MLS GRID,MLS#: 22040254
Facts & features
Interior
Video & virtual tour
Property
Lot
- Size: 9,583 Square Feet
- Features: Corner Lot, Corner
- Topography: Cleared,Level
Details
- Additional structures: See Remarks, Other
- Parcel number: 491118113223000900
- Zoning: Residential
- Zoning description: Single Family
- Horse amenities: None
Utilities & green energy
- Water: Public, Municipal Water on Site
Community & HOA
Community
- Subdivision: Drexel Gardens
HOA
- Has HOA: No
Location
- Region: Indianapolis
Financial & listing details
- Tax assessed value: $28,100
- Annual tax amount: $1,098
- Date on market: 7/8/2025
- Cumulative days on market: 200 days
- Road surface type: Asphalt
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 7/8/2025 | Listed for sale | $97,997+104.2% |
Source:  MIBOR as distributed by MLS GRID #22040254 Report a problem | ||
| 5/14/2024 | Sold | $48,000 |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $1,086 -1.1% | $28,100 -39.2% |
| 2024 | $1,097 +7.8% | $46,200 -1.1% |
| 2023 | $1,018 +23.4% | $46,700 +7.9% |
| 2022 | $825 +16.4% | $43,300 +42% |
| 2021 | $708 -0.4% | $30,500 +16.4% |
| 2020 | $711 +5.6% | $26,200 -0.4% |
| 2019 | $673 -4.9% | $26,300 -8% |
| 2018 | $707 -14.6% | $28,600 -0.3% |
| 2017 | $828 +6.3% | $28,700 -10.3% |
| 2016 | $779 +19.3% | $32,000 -1.8% |
| 2014 | $653 +17.7% | $32,600 |
| 2013 | $555 | $32,600 +17.7% |
| 2012 | $555 | $27,700 -10.9% |
| 2011 | -- | $31,100 -1.3% |
| 2010 | $172 +9.2% | $31,500 -1.6% |
| 2009 | $157 | $32,000 -4.2% |
| 2007 | -- | $33,400 +15.2% |
| 2006 | -- | $29,000 -11.6% |
| 2005 | -- | $32,800 |
| 2004 | -- | $32,800 |
| 2003 | -- | $32,800 +175.6% |
| 2002 | -- | $11,900 +199.7% |
| 2001 | -- | $3,970 |
| 2000 | -- | $3,970 |
Find assessor info on the county website
Monthly payment
Climate risks
Neighborhood: Park Fletcher
Nearby schools
GreatSchools rating
- 4/10Maplewood Elementary SchoolGrades: PK-6Distance: 0.3 mi
- 4/10Lynhurst 7th & 8th Grade CenterGrades: 7-8Distance: 1 mi
- NABen Davis Ninth Grade CenterGrades: 9Distance: 4 mi
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A local agent can set up tours, give advice and negotiate with sellers.
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